1ST Source Bank Has $1.32 Million Stake in Quanta Services, Inc. (NYSE:PWR)

1ST Source Bank grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,198 shares of the construction company's stock after purchasing an additional 2,099 shares during the quarter. 1ST Source Bank's holdings in Quanta Services were worth $1,321,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Copperwynd Financial LLC grew its stake in Quanta Services by 0.9% in the 1st quarter. Copperwynd Financial LLC now owns 6,072 shares of the construction company's stock valued at $1,543,000 after acquiring an additional 52 shares during the period. Kestra Private Wealth Services LLC grew its stake in Quanta Services by 63.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,756 shares of the construction company's stock valued at $1,971,000 after acquiring an additional 3,004 shares during the period. Brogan Financial Inc. grew its stake in Quanta Services by 9.9% in the 1st quarter. Brogan Financial Inc. now owns 813 shares of the construction company's stock valued at $207,000 after acquiring an additional 73 shares during the period. Resurgent Financial Advisors LLC boosted its stake in Quanta Services by 3.2% during the 1st quarter. Resurgent Financial Advisors LLC now owns 4,714 shares of the construction company's stock worth $1,198,000 after purchasing an additional 145 shares during the last quarter. Finally, Financial Harvest LLC acquired a new stake in Quanta Services during the 1st quarter worth $2,348,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PWR. DA Davidson boosted their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. TD Cowen boosted their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Citigroup cut their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $355.75.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $5.63 on Friday, hitting $403.53. The company's stock had a trading volume of 1,060,076 shares, compared to its average volume of 1,095,293. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $405.43. The company has a market capitalization of $59.83 billion, a price-to-earnings ratio of 65.09, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The stock's 50-day moving average is $362.17 and its two-hundred day moving average is $312.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.